OTC Derivatives Clearing Summit: Industry will struggle to meet clearing deadlines

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Buy-side firms will find it difficult to meet Dodd-Frank Act deadlines to clear over-the-counter derivatives, in large part because of legal and operational obstacles, according to speakers at Risk's inaugural OTC Derivatives Clearing Summit in New York this morning.

The Commodity Futures Trading Commission (CFTC) published a proposed clearing determination for certain interest rate and credit default swaps on July 24, and a final rule is expected in October or early November. From that point, m

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